Renewal of investment development dealThe Malaysian-owned Barama Company Limited will by August of this year know its fate as Government willNatural Resources Minister Raphael Trotmandecide whether or not it would continue its operations in Guyana.The company’s 25-year Investment Development Agreement comes to an end in October later this year, and Natural Resources Minister Raphael Trotman said Government was still to make a decision on the way forward for the company.“Cabinet has given the approval since last year for Government to enter into negotiations with Barama. That has been an ongoing process. We have been meeting pretty often and I hope to lay something before Cabinet by August for its consideration,” the Natural Resources Minister told Guyana Times on Monday.He said following his presentation to Cabinet, a decision would be made.Trotman said Government remained committed and had no difficulties in doing business with foreign companies; however, its criteria were pretty simple.“Respect our laws, respect the people, particularly those who work for you, and respect your agreements that you signed,” he indicated.Government, in February of this year, commenced discussions on the possibility of renewing the $43 billion-dollar investment in Guyana.Late last year, Minister Trotman visited the company’s Buck Hall, Essequibo operations and met with the company’s Chief Executive Officer (CEO), Choo Siong Liew; General Manager Mohindra Chand, and Senior Manager with responsibility for Human Resources, Patricia Mingo.During that tour, Chand had reiterated that the company was determined to continue its operations in Guyana, stating that while it was faced with many challenges, it was committed to never closing its operations.Barama’s operations consist of forest management, timber harvesting and manufacturing of various wood-based products such as plywood, sawn timber, and flooring products.The Barama Company established its operations in Guyana in 1991, and is one of Guyana’s biggest employers, employing approximately 1000 Guyanese. It has been allocated some 1.6 million hectares of the State production forest and has been operating the largest forest concession in Guyana.
“I played well again,” said Haas, the tour’s player of the year last season. “I seemed to putt better. I felt comfortable over the ball.” Jacobsen, who had laser back surgery last week to repair disk damage caused from a hip replacement last year, followed his opening 66 with a 64. Meaghan Francella shot a 4-under 68 on Saturday to take a two-stroke lead during the suspended second round of the MasterCard Classic. The 24-year-old Francella had five birdies and a bogey on the Bosque Real Country Club course in the round marred by sporadic rain that prevented 87 players from completing the round. She had an 8-under 136 total. Stacy Prammanasudh, the first-round leader after a 67, and South Korea’s Seon-Hwa Lee were tied for second at 6 under. Prammanasudh, coming off a victory two weeks ago in the Fields Open in Hawaii, played only two holes Saturday, while Lee shot a 69. Mark Calcavecchia felt confident about his game and fell in love with his putter. That’s a rare combination for him, so he had a hunch that Saturday would bring him a good round in the PODS Championship. He never could have imagined this. The 46-year-old Calcavecchia made 10 birdies and tied the Copperhead course record at Innisbrook with a 9-under 62, going from the middle of the pack to a share of the lead with Heath Slocum, who birdied the last hole for a 67. K.J. Choi shot 67 and was another shot behind. PGA TourLPGA TourEuropean PGAEnglishman Gary Lockerbie shot a 3-under 69 Saturday to share the lead with China’s Liang Wenchong after three rounds at the Singapore Masters. Lockerbie, who had seven birdies, is at 12-under 204 in the $1.1 million tournament, played on the Laguna National Golf and Country Club’s Masters course. Liang (68) finished the round with a birdie putt from 20 feet. Overnight leader Jyoti Randhawa of India was one stroke off the lead after an even-par round in which he shot four birdies and four bogeys. Malaysia’s Iain Steel (71) and Ireland’s Peter Lawrie (70) were two strokes back. Thailand’s Thongchai Jaidee (69) and Englishman Simon Dyson (67) both had eagles on the par-5 8th hole and were tied for sixth at 9-under. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! Jay Haas shot a 7-under 64 on Saturday to match the Toshiba Classic’s 36-hole scoring record and take a one-stroke lead over Peter Jacobsen into the final round of the Champions Tour event. Haas, who opened with a 65, had a 13-under 129 total on the Newport Beach Country Club course. He matched the 36-hole record set by Rodger Davis in his 2003 victory. R.W. Eaks (66) two strokes back at 11 under, and Ben Crenshaw (67) and Joe Ozaki (64) followed at 10 under. Haas broke out from the pack early, birdieing three of his first four holes en route to a 5-under 30 on the front nine. Haas, a four-time winner last year on the 50-and-over tour, has four top-fives in six tournaments this season, including three second-place finishes. “I really played well at our first tournament this year,” Haas said. “I won’t say I should have won by now, but I am playing well and that is a carryover from last year. If Haas is going to win he’ll have to hold off Jacobsen, as well as seven other golfers who are within four strokes of the lead.